Generating reports in Xero for your business
Updated: Oct 23
Most business owners don't have the foggiest when it comes to using their accounting software and most rely on their Accountant or Bookkeeper for reports etc, but what if you couldn't get hold of your finance person or you needed a report short notice, or you just fancied checking to see how things are going? **
** Please note that any report that you run will only be as good as the data entered into your software, so whilst you can run the report yourself, it's always worth checking with your accountant or bookkeeper that things are up to date first, otherwise you could make a critical business decision based on information with errors, that could ultimately cost you dearly.
So where do you find the reports?
At the top, click on the accounting tab and then select reports. This is where you can find and run all of your financial reports.
Select the report you want to run. There are a variety of reports available, including the balance sheet, profit and loss statement, cash flow statement, aged receivables, and aged payables.
Select the date range for the report. You can view reports for a specific day, week, month, quarter, or year.
Click Run report. Xero will generate the report and display it on your screen.
To save the report:
Click the Download button and select the format you want to save the report in (PDF, Excel, or CSV).
Enter a name for the report and select a location to save it.
To publish the report:
Click the Publish button.
Enter a title and description for the report.
Once the report is published, it will be available to all users with access to your Xero account.
What reports might be useful to me in my business?
The most common reports and the ones we'd recommend you look at are
Balance sheet: This report shows the financial position of your company at a specific point in time. It includes a list of all of your assets, liabilities, and equity.
Profit and loss statement: This report shows the financial performance of your company over a period of time. It includes a list of all of your income and expenses, as well as your net profit or loss.
Cash flow statement: This report shows how much cash your company has received and spent over a period of time. It includes a list of all of your cash inflows and outflows, as well as your net cash flow.
Now please remember, Make sure your Xero data is up-to-date before running any reports.
Use the filters to customise the reports to your needs. For example, you can filter reports by date range, account type, or customer or supplier.
Save and publish your reports so that you can easily access them later.